Alex Edelson’s Slipstream is a fund of funds that focuses on firms that are “difficult to find, evaluate and access.” Together with Beezer Clarkson, Partner at Sapphire Partners, and Nick Chirls, Partner at Asylum Ventures, Alex unpacks his strategy of investing in funds he believes can outperform, how to raise capital as an LP, and how to remain competitive against LPs investing in more established firms. The three of them also dig into a recent blog post by Beezer titled “Is Venture Broken?” - which explores the role of mega-funds in the early-stage market. You can read that here.

This episode of Origins is supported by Sydecar. Visit sydecar.io/origins-podcast to learn more.

Learn more about Sapphire Partners: https://sapphireventures.com/sapphire-partners

Learn more about OpenLP: openlp.vc⁠

Learn more about Asylum Ventures: asylum.vc⁠

Learn more about Slipstream: slipstreaminvestors.com

For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: subscribe.openlp.vc

Sydecar, Inc. (“Sydecar”) has acted as a financial sponsor within this Origins podcast. Sapphire Ventures, LLC (“Sapphire”) is not affiliated with or invested in Sydecar.

CHAPTERS:

0:00-Welcome to Origins

2:59-Why Start a Fund of Funds?

7:39-How Do LPs Raise Capital?

16:56-I’m the LP I Wanted to Work With As a GP

21:17-What Is Similar & Different Between Now and 2021?

30:41-What Is an Advantage One Day Is Table Stakes the Next

34:18-You Don’t Need a Big Winner to Have An Amazing Small Fund

39:08-Is Venture Broken?

Origins host Beezer Clarkson, LP at Sapphire Partners and co-founder of OpenLP is rejoined by Nick Chirls, GP at Asylum Ventures to unpack her recent conversation with Sunil Dhaliwal and Mike Dauber of Amplify Partners. They discuss partner dynamics, the importance of maintaining relevance for the long haul, and the different ways curiosity can show up. Plus, Nick & Beezer dig into whether they count as extroverts at work and introverts everywhere else.

Learn more about Sapphire Partners: sapphireventures.com/sapphire-partners

Learn more about OpenLP: openlp.vc

Learn more about Asylum Ventures: asylum.vc

Learn more about Amplify: amplifypartners.com

Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.

CHAPTERS:

0:00 Welcome to Origins

2:18 ”I’m Not Gonna Be a Solo GP Forever”

6:07 Pushing Decision Making to the Edge at Amplify

9:24 How Are You Relevant Five Years From Now?

13:24 Investors: Introverts or Extroverts?

Sunil Dhaliwal founded Amplify in 2012, and was joined by his longtime friend and colleague Mike Dauber in 2014. Beginning as one of the first solo GP, early-stage, sector-focused funds, Amplify has now grown to a team of 9 partners investing in the next generation of applications tools and platforms for developers, data teams, and ML engineers focused on AI, cloud infrastructure, and data security. Mike and Sunil sit down with Beezer Clarkson, Partner at Sapphire Partners, to discuss their strategy of building for outliers, shaping founders into leaders, and making it easy for their GPs to back non-consensus companies. They also unpack their recent $900 million raise and their first dedicated biotech fund, Amplify Bio.

Learn more about Sapphire Partners: sapphireventures.com/sapphire-partners

Learn more about OpenLP: openlp.vc

Learn more about Asylum Ventures: asylum.vc

Learn more about Amplify: amplifypartners.com

For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: subscribe.openlp.vc

CHAPTERS:

0:00 Welcome to Origins

2:17 The Origins of Amplify

5:21 Eliminating the Need for “Mr. Business”

10:25 Building Amplify for Outliers

25:08 Being Technical VCs in the Age of AI

28:47 Amplify Bio

36:19 Has Venture Actually Changed At All?